Marketers will have an easier time connecting their brand investment to impact on market share now that Upwave, the leading brand analytics platform for marketers, has formed an alliance with Ibotta, a leading cash back and rewards platform for consumers. Today, the companies announced their partnership that will help marketers connect brand building effects with market share gains—the measurement “holy grail” for brand marketers.
Today’s complex digital marketing landscape makes it imperative for CMOs to pinpoint the brand investments that lead to sales growth. While marketers have had access to brand lift metrics, they have not been able to see how such lift drives market share gains. The Upwave-Ibotta partnership connects these dots, thereby ushering in a new era of marketing analytics.
“We are excited that Upwave’s brand analytics platform will now include our purchase data,” said Thomas Benedict, Senior VP Data & Media at Ibotta. “This uniquely powerful combination of measurement and privacy-compliant sales data will help marketers optimize their media investments more effectively and increase their market share.”
All Ibotta data is first-party, fully deterministic, fully opt-in, and CCPA compliant. It is rigorously processed and analyzed to create the most accurate, retailer-representative, UPC-level purchase data asset in the industry.
Upwave is the leader in brand analytics for “performance branding” marketers. Adding Ibotta data will empower marketers with a more accurate vision of how their brand building is impacting growth in market share. As an initial case study, Upwave’s platform showed that for three of the four largest brands of an international beer advertiser, there was a higher than 90% correlation between brand consideration three months ago, and current market share. This consistently held true over a multi-year timeframe.
Upwave already shows marketers how their brand building is impacting share of search, from a 2021 acquisition. So, marketers will have one platform to see a unified view of brand effects, search effects, and sales effects.
This announcement follows a period of growth of Upwave, which recently debuted CTV Customer Lift and announced a partnership with TV measurement firm TVSquared.
“Marketers have always asked us to answer the age-old question of how brand growth drives market share,” said Upwave CEO Chris Kelly. “By partnering with Ibotta, we are finally able to help CMOs answer this question, which they are being asked weekly by their CFOs and CEOs. This is a giant leap for brand analytics.”